Store location is the most important factor for the public when choosing where to do most of their daily shopping, according to the “Maxima Retail Compass” industry overview. Priority is given to stores which are as close as possible to people’s home and work (63.1%), as well as on the way to/from work or studies (43.6%).
Location is particularly important for younger people – 86.5% of respondents aged between 18 and 25 stated that a store’s location near their home or work is important. This is 23.4 percentage points more than the average for other age groups. The significance of store location continues to grow among the public.
Zane Kaktiņa, Head of Business Analytics at “Maxima Latvija”, explains: “Over the past two years, the number of respondents who select a store on their way to/from work or studies has increased by 7 percentage points. When adapting to the dynamic pace of life and habits of the public, retailers must carefully evaluate how to expand their store chain most effectively. For example, in the past two years, “Maxima Latvija” has opened six smaller-format “Maxima Express” stores.”
At the same time, store choice is also significantly affected by factors such as lower prices (35.4%), sales (29.2%) and bigger discounts (29.6%). However, the significance of these factors has reduced in the past two years. Kaktiņa explains that there are two reasons for this: customers’ increased purchasing power, and customer appreciation of retail chain price reduction initiatives.
About industry overview “Maxima Retail Compass”:
“Maxima Retail Compass” is a comprehensive retail industry overview in which the experts of the retail chain “Maxima Latvija” provide their evaluation of the situation in retail sales and its development trends in future. The overview was developed based on the data of “Maxima Latvija” and attracting the best industry researchers from the market and public opinion research centre SKDS, and using data provided by the Central Statistical Bureau and other sources. The research was conducted in cooperation with the market and public opinion research centre SKDS in April 2019. The research involved 1,005 respondents, age 18 to 75.
More information:
Jānis Beseris
Head of corporate affairs at SIA “Maxima Latvija”
Phone +371 29666603
